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Bulgaria ranks 47th in the world for change readiness

Bulgaria ranks 47th in the world for change readiness

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The 2015 Change Readiness Index (CRI) released by KPMG International ranks 127 countries for their capacity to prepare for and respond to accelerating change brought about by everything from natural disasters and economic and political shocks, to long term trends such as demographics, and new technologies.

Produced in partnership with Oxford Economics, the CRI is the only global study of its kind, designed for use by both the public and private sectors to better inform decisions on policy making and investments. It encompasses 97 percent of the world population and 96 percent of global GDP.

Insights into Bulgaria’s Capacity to Tackle the Changing Environment

Bulgaria enters the CRI ranking for the first time at the 47th position globally.

Our country has leading positions in terms of the availability of IT infrastructure and its ability to adopt new technologies, including in social media, which enhances its competitive advantage.

Another positive factor is the sound macroeconomic track record related to contained currency and inflation risks, thus providing a stable and predictable environment for social and economic development.

The country’s performance in the CRI is adversely affected by issues common to the region such as the general demographic profile and energy security.

The CRI outline the areas which if addressed properly could help boost Bulgaria’s performance such as more effective strategic planning from the central authorities, human capital development, and better, freer and wider access to information across all strata of the society.

Determining a Country’s Change Readiness

In assessing capability for change readiness, the CRI measures a country’s capacity in three areas:

Enterprise capability – a country’s business environment

Government capability – including fiscal, regulatory and security aspects

The release of the CRI comes as United Nations member states prepare to adopt Sustainable Development Goals in September that will help guide policies for the next 15 years.

Top Ranked Countries for Change Readiness

Singapore is in the leading position and the top 10 countries have populations of less than 10 million people. Northern and Western European countries dominated the top 20:

1.Singapore

2.Switzerland

3.Hong Kong

4.Norway

5.United Arab Emirates

6.New Zealand

7.Qatar

8.Denmark

9.Sweden

10.Finland

11.Netherlands

12.Germany

13.United Kingdom

14.Canada

15.Japan

16.Australia

17.Austria

18.Belgium

19.Chile

20.United States

Additional resources, along with interactive country profiles that allow comparisons between countries, regions and income levels, are available online.

About the Research

The Change Readiness Index (view the online tool) covers 127 countries including the 90 covered in the 2013 CRI plus a combination of additional developed and developing nations. The expanded selection of countries provides greater opportunity for comparison across regions and income levels. The CRI is structured around three pillars (Enterprise capability, Government capability, People & Civil Society capability), that signify a country’s underlying ability to manage change. Researchers at Oxford Economics gathered primary survey data from 1,270 country experts around the world, which was combined with a rich secondary dataset made up of more than 120 variables, which are clustered into 73 secondary data indicators within the index. Secondary data sources include, for example, the World Economic Forum, World Bank, Legatum Institute, International Monetary Fund and United Nations. For full details on the pillars, pillar sub-indicators and weighting, primary survey questions, and secondary data sources, go to: kpmg.com/changereadiness-methodology.